BTIG Starts GX Acquisition Corp. (GXGX) at Buy
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BTIG analyst Thomas Shrader initiates coverage on GX Acquisition Corp. (NASDAQ: GXGX) with a Buy rating and a price target of $16.00.
The analyst comments "Celularity is a clinical-stage biotech company focused on developing off-the-shelf allogeneic T-cell, NK cell, and mesenchymal stem cell-based therapies each derived from postpartum placenta. These cells are highly enriched in stem cell-like precursors designed for safer and more durable cell therapies. This property seems likely to be important in battling hematological tumors and essential in tackling solid tumors and chronic inflammation conditions. In addition, placental cells show a naturally low level of immunogenicity and GvHD and these properties may be important in future applications. The company originated as the cellular therapeutics division at Celgene Corporation (now BMY, Not Rated) and in 2017 was spun out. Today, Celularity has deep expertise and broad IP (>1500 patents) covering its potential products and their production. Manufacturing clinical material is a focus and Celularity has built a 150,000 sqft. GMP manufacturing facility that stresses independent manufacturing suites to avoid manufacturing failures."
Shares of GX Acquisition Corp. closed at $10.06 yesterday.
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